Recent Cases Nov 19, 2021
Sportscene Group Enters Into a Privatization Agreement for a Cash Consideration of $7.25 Per Share
Sportscene Group Inc. ("Sportscene") has recently entered into a definitive business combination agreement after which our clients, Sportscene's President and Chief Executive Officer, Jean Bédard, and a consortium of Québec-based investors led by Champlain Financial Corporation, acquired through a newly-incorporated company, all of Sportscene’s issued and outstanding Class A shares for $7.25 per share.
Under the terms of this transaction, Sportscene will become a private company for a total consideration of approximately $51.25M, which excludes the value of certain shares and options of the Company held by Jean Bédard and his affiliate, and its shares will cease to be listed on the TSX Venture Exchange. The privatization of Sportscene will streamline its operations and allow it to better pursue its strategic plan.
Groupe Sportscene is a pioneer and leader in the Québec restaurant industry, operating the La Cage - Brasserie Sportive restaurant network since 1984. Sportscene continues to diversify its restaurant offering, notably by operating an Asian cuisine restaurant, P.F. Chang’s.
Champlain Financial Corporation has been a Canadian private equity firm based in Montréal since 2004. It manages assets under management of more than $800M through a portfolio of 22 companies located mainly in Quebec in the consumer products, food processing, retail and distribution industries.
BCF is proud to have contributed to this transaction carried out by a team composed of Mario Charpentier, Gilles Seguin and Jean-Christophe Imbeau (Corporate Finance and Securities) and supported by Mireille Fontaine, Vincent Garibaldi, Thomas Champagne, Laurence Babin and Pascal Gagnon (Corporate Finance and Securities), Anne-Frédérique Bourret, Eleonora Eusepi, Caroline Emond and Alessia Talarico (Environmental and Real Estate), Kevin Vincelette and Stefania Fratianni (Labour) and Mehrez Houacine (Tax).
To read the press release, click here (in French only).
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